Logging in with your USERNAME allows you to participate in discussions, see what has recently been posted, and other options. Guests can post but they do have limited abilities.

We are NOT a guru forum. We are a dinarian forum. The opinions expressed on the forum do not reflect the of opinion of Dinar Daily specifically, but rather reflect the views of the individual posters only.

Disclamer:

We are in compliance with, "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."

We hear lots of rumors about the revaluation of the Kuwaiti dinar. This is normally the first rumor you hear about. It boosts your confidence and launches you into this investment of the Iraqi dinar revaluation. But is this under a false pretext right from the very start? As these intel “gurus” present a case that the similarities are very similar. I am here today to inform you they are NOT.

Many are told this would be a “quick” get rich investment. After all they say -“look at the Kuwaiti revaluation and how fast it revalued”. Surely the Iraqi dinar is going to do the same? At least this is at the heart of the pretext.

Pretext defined: a reason given in justification of a course of action that is not the real reason

Unfortunately, like most of these currency rumors, people do not take the time to research any further on their own to find out if there is any real substance to them. Later when the disappointment comes they get angry and cop these negative attitudes.

Oh – some do attempt to do some research as they get on the internet and do searches. But what do they find? More rumors from just another guru, who took info from another guru and the cycle of the rumor just continues on and on. You have to really dig deep and not go to the same sites that telling you the rumor. All you will get is yet more rumors. Get it?

So again going back to rumors – if they are said long enough and by enough people they soon become part of the truth. But are they? Rumors don’t make or change reality.

Wouldn’t you really like to hear the TRUTH instead. So in most cases no real in-depth research is rarely ever completed by these intel “gurus”. No one ever really finds out the TRUTH in the matter and this Kuwaiti RV vs the Iraqi RV is a very good case in point. This is a prime example of this madness.

This is why I decided to post this Special Edition today. I have done the research. So let’s get the record clear on this Kuwait RV once and for all.

I also encourage everyone to go read my Special Edition of the Mnt Goat

newsletter dated Dec 8, 2017. I list the reasons why it is not as simple in the

Iraqi dinar process as it was for the Kuwait dinar process.

So let’s begin with our analysis today.

But what REALLY happened with the Kuwaiti dinar anyhow?

Do any of you REALLY know the FACTS?

Many of you are so bent on using it as a comparison you use for your justification to invest or sell the Iraqi dinar. Most of what you know is wrong. That’s what you get for believing and spreading rumors without researching them yourself.

First let me say the RV was actually a re-instatement. There was never a revaluation. The currency was put on a free-market FLOAT by the IMF and the rise in rate (not value) was due purely by speculation. The value remained the same and eventually the results of the FLOAT leveled off and it returned to its true value, which was right around the re-instatement value in the first place. So if you didn’t catch the train you were out of luck….It happened so fast.

You should really pay attention to the TRUTH here if you want to learn something and you can apply this to all currencies being reinstated. So there is always a lesson somewhere to learn. It may not be the crap you where told however.

So let’s look at the entire process of the 1990 and the KWT currency of the Kuwaiti dinar. So in the recent history of the KWT, there has been five issuances of the currency. We are concerned mostly with the last three (3) since these are the timeframes we talk about most in our rumors.

THIRD SERIES (the last prior to the invasion of Kuwait by Iraq)

The third series was issued on 20 February 1980, after the accession to the throne of late Emir Jaber al-Ahmad al-Jaber al-Sabah, in denominations of 1⁄4, 1⁄2, 1, 5 and 10 dinars. A 20 dinars banknote was introduced later on 9 February 1986. As a result of the state of emergency after the Invasion of Kuwait, this series was ruled invalid with effect from 30 September 1991.

Significant quantities of these notes were stolen by Iraqi forces and some had appeared on the international numismatic market. The "Standard Catalog of World Paper Money" (A. Pick, Krause Publications) lists notes with the following serial number prefix denominators as being among those stolen: ¼, ½, 1, 5, 20.

FOURTH SERIES (these are the ones many made millions off of)

After the liberation of Kuwait by Operation Desert Shield, a fourth series was issued on 24 March 1991 with the aims of replacing the previous withdrawn series as quickly as possible and guaranteeing the country's swift economic recovery. This fourth series was legal tender until 16 February 1995. Denominations were 1⁄4, 1⁄2, 1, 5, 10 and 20 dinar.

FIFTH SERIES (the dinar they use today, just a security upgrade)

The fifth series of Kuwaiti banknotes were in use from 3 April 1994 and included high-tech security measures which have now become standard for banknotes. Denominations were as in the fourth series.

The process that actually took place:

According to Business Times, 25 September 1990, when Iraq invaded Kuwait in August 1990, they order a 12 days currency exchange for the holders of Kuwaiti dinars at one to one exchange with Iraqi dinar, each Kuwaiti dinar was

worth nearly US$3.50 before Iraq's invasion of Kuwait.

People who loss confidence on Kuwait change their Kuwait Dinar and the Kuwaiti currency soon withdrawn from circulation and has been replaced by Iraqi currency. During that time, Iraq don't just replacing the Kuwait currency, they also seized gold, foreign currency and goods worth between US$3 billion to US$4 billion from the Institute of the financial institutions and trading in Kuwait. The Kuwait Central Bank's vaults of gold and cash has been emptied by Iraqi troops.

On 11 August 1990, The Business Times reported that banks and money changers had suspended the Kuwaiti currency trading, with many of them even shying away from quoting other Middle-east currencies. Most expatriates living in the Middle east during that time exchange their middle east currency with US Dollar.

On 18 January 1991, Reuter reports that The Kuwaiti dinar has soared on Middle East black markets in the run up to a Gulf war in the expectation that A RESTORED GOVERNMENT WOULD HONOR THE CURRENCY AT ITS FORMER VALUE.

After the invasion was over on February 1991, Kuwait issued new currency on 24 March 1991. On 21 March 1991, Kuwait Central Bank Governor Salem Abdul Aziz al-Sabah said 700 million newly-minted Kuwaiti dinars had already arrived in the vaults from Germany and London.

The New York Times, March 25, 1991 reported the KUWAIT CENTRAL BANK IS CANCELING THE VALUE OF KUWAITI DINARS THAT WERE SEIZED FROM THE CENTRAL BANK AND PUT INTO CIRCULATION BY THE IRAQIS. The invalid serial numbers were posted in front of all banks in the city. All other old dinars can be exchanged for new ones on a one-to-one rate until May 7, when the old dinars become invalid. The new official exchange rate is 3.47 American dollars for one new Kuwaiti dinar.

In Kuwait Dinar case, the new official exchange rate (US$3.47) is almost the same as the value (US$3.50) before Iraq's invasion. Kuwait government don't borrow money from foreign institution for the Kuwait reconstruction. They have US$100 billion in overseas investments to help them for the Kuwait reconstruction. In the closing hours of the Gulf War in February 1991, the Iraqi occupation forces set ablaze or damaged 749 of Kuwait's oil wells. All of these fires were extinguished within a year. Production has been restored, and refineries and facilities have been modernized. Oil exports surpassed their pre-invasion levels in 1993 with production levels only constrained by OPEC quotas. The gold looted from Kuwait had been return by Iraq on August 1991.

The United Nations Compensation Commission (U.N.C.C.). also imposed a total of $53 billion in war reparations charges against Iraq. It concluded considering files and imposing charges at its June 2005 meeting. Iraq has paid $19 billion of these imposed reparations charges. The U.N.C.C. awarded Kuwait’s oil sector $21.5 billion and Kuwait’s government $8.2 billion. The U.N.C.C. also awarded Kuwait an additional $3.8 billion for claims arising from environmental damage.

What is happening during Kuwait RV in 1991 and what happened with Iraq is totally a different situation.

(Mnt Goat – so now you can tie into to the entire process and see where the war reparations come from and how much they were. The remaining balance of these reparations had to be paid off or a deal cut with Kuwait that was also acceptable to the IMF. Late last year 2017, a deal was cut to export gas over a (soon to be built) pipeline from Iraq to Kuwait. This deal was needed to get Iraq out of Chapter VII)

So below is the typical rumor that is being passed around. These so-called intel “gurus” pass this stuff around like they know what they are taking about. But they don’t and I proved it once again.

So I am providing a quote directly from the Dinar Daily and Recaps (the worst of the sites ever to read for your intel).

I quote as follows:

“Basically when Saddam invaded Kuwait, the Kuwaiti Dinar was intentionally devalued so that Hussein wouldn't reap the benefits of having confiscated a powerful currency. The Persian Gulf War ended Feb 28 and the revaluation took place within a month on March 24, 1991. Many people on these forums including our good friend Dusty have said in the chat rooms that they knew people who cashed in and made millions on the Iraqi Dinar.”

SYNOPSIS

I’d like to meet all these people who made millions….lol…lol…

You can see the revaluation was not a revaluation but IN FACT a re-instatement and it was actually 3 cents less than before the Iraqi invasion. Go figure?

So how did anyone make millions then?

So where is all this RV money people were supposedly have made? Who got rich? There wasn’t even an increase. In fact it re-instated at 3 cents less. Any increase in rate (not value) simply came from a mad , hysteria of speculation.

It wasn’t that people were smart enough to purchase the currency on FOREX or thru a broker or have it as investors. Then go the bank and exchange it, like we will do with the Iraqi dinar.

We can see the value was not de-valued like the Iraqi dinar and then revalued. So how did all these supposedly people make all these millions? The FACT is they didn’t. Instead those that made any money off the Kuwaiti dinar would have had to make it off of getting the money out of the trash can or picking it up off the streets in Kuwait. Citizens literally threw the pre-invasion money out in the trash once Saddam Hussein issued his own dinar in Kuwait. They had no idea of what was to come later – the invasion and the liberating of their currency. You literally had to be in the right place at the right time to get rich off this dinar.

So who did get rich then?

Yes, there were some individuals like you and me who did get rich, but mostly it was the large investors who jumping on FOREX and caught the ride while it lasted.

FACT or FICTION: The USA used the Kuwaiti dinar revaluation to pay off the National debt under the Clinton administration

This could not be farther from the truth. Sorry to say.

First, we know from reading the FACTUAL history of the process that took place it was not IN FACT a revaluation but a reinstatement.

Second, it was only re-instated and the dinar actually came back at 3 cents less there is was prior to the invasion by Iraq.

FACT or FICTION: the Kuwaiti dinar was taken out of the US reserves and exchanged it to pay of the National debt.

No Kuwaiti dinar was “cashed in” and taken out the reserves to pay for anything. Even it was there we see there was actually a 3 cent de-valuation in the Kuwiati dinar when it did get re-instated.

So I will tell you what did happen. The Kuwait dinar was used to pay off the USA for the expense of the invasion and this is how this war paid for itself. This money was received by the US Treasury from Kuwait during the time of negotiations on the whether to raise the debt ceiling once again to borrow more money for the deficit spending for that last year of the Clinton administration. They had to do something. Remember president Clinton is the one who proposed the Gramm-Rudman-Hollings Act, which prohibits deficit spending unless in time of national emergency (like a war).

The Gramm–Rudman–Hollings Balanced Budget and Emergency Deficit Control Act of 1985 and the Balanced Budget and Emergency Deficit Control Reaffirmation Act of 1987 (both often known as Gramm–Rudman) were the first binding spending constraints on the federal budget.

The acts were named after U.S. Senators Phil Gramm (R-Texas), Warren Rudman (R-New Hampshire), and Fritz Hollings (D-South Carolina), who were all their chief sponsors.

Under the 1985 Act, allowable deficit levels were calculated for the eventual elimination of the federal deficit. If the budget exceeded the allowable deficit, across-the-board cuts were required.

During Clinton’s last year in office was one of the few periods where the USA was not “officially” at war. This was during the period of lull between the first gulf war and the second later gulf war. I call then the embargo years for Iraq. This is the period of ten years when they wanted to inspect and make sure that Iraq did not have any weapons of mass destruction. Also they wanted to wear down the government, the military and the economy to get ready for the second invasion that was to take place in 2003.

So this money was used for this purpose. This is all that happened. All the FACTS are there if you want to do the research. The USA DID NOT use any of this money to pay of the National Debt, not a penny. It only prevented from adding to it. Did you hear me? This is all a very big over blown rumor.

There happened to be some money left over once they covered the amount of the deficit in that year’s budget, so instead of saving it and applying it to next years’ deficit, the incoming new president G. W. Bush gave out rebates to everyone just in time to gain popularity going into his second election. He knew there was not much of a chance in getting a second term and had to do something. Remember he also signed the Medicaid bill for prescription drugs to senior citizens about this time too. Lots of freebies to the voters in return for votes. Is all about votes. This is what they always do. It is not really about caring for YOU. It is about staying in power. We saw just how close the election was and if it was not for the rigging of the voting process in Florida, he still would not have made it to a second term.

FACT or FICTION: Once re-instated investors climbed onboard and bought the Kuwait dinar and drove the price up to US$9.00 on float before the IMF capped it.

This is about the only FACTUAL part of the entire saga to this story of rumors on the Kuwaiti dinar. So yes, if you did happen to have the Kuwaiti dinar, the correct series of the currency (fourth or fifth issued series),and you were following FOREX closely, you stood a chance to make some money and could have possibly made millions. But how many people had all these conditions just right in their favor? Like I said many of the invading Gis had the hard currency in their duffle bags and it was bought home. The military forbid this but they did it anyhow. The worst that could happen to them is that it could be confiscated upon inspection once arrived at home. They never inspected most of their luggage.

So along with the FOREX daily watchers (educated investors) these GIs held this currency but they had to know to go to the bank with it. Most did not and missed the opportunity as the rate soon dropped back and normalized.

So again I ask you – Where are all the millionaires from the Kuwaiti dinar 1990’s revaluation? Do you see now this is mostly all hyped up rumors?

FACT or FICTION: the US Treasury “exchanged” trillions of the Kuwaiti dinar once the rate rose to record levels on FOREX.

No, this is not true. The US Treasury was paid by Kuwait in US dollars not Kuwaiti dinar. Even with the US $9 FOREX hysteria, the US Treasury simply did not have enough Kuwaiti dinar to pay off the trillions of National Debt at that time., even if they wanted to. After all, the war debt with Kuwait was only in the billions not trillions and Kuwait was able to easily pay this IOU back to the US, as agreed would happen prior to the war. This was all an upfront agreement and the timing was perfect. Clinton was to look like a hero but not for the reasons you are made to believe.

So the BIG question is this – is there a new plan to stock the US Reserves with Iraqi dinar and use it to pay off the National Debt after its revaluation?

Well one thing we do know for sure is the Iraqi dinar will have a very substantial revaluation unlike the initial re-instatement of the Kuwaiti dinar. We know this from knowing about the process to “delete the zeros”. In fact the Kuwaiti dinar never really did revalue, it only rose in rate (not value) due to the float on FOREX and pure speculation. It then came back to reality. So go figure.

I am positive there is some plan to do something and use some of this to pay off debt if nothing else in part to use it for the deficit negotiations coming up on Feb 8th once again. Can they balance the deficit? Trump will look like a hero if they can and do it without closing down the govt again. As the US is not doing all this work in Iraq to just fight terrorism. I do not know all the details nor will I pretend to know. We shall all find out after the fact.

This is all information that, if you tie it all together, points to the near completion of the project to delete the zeros and eventual revaluation of the Iraqi dinar. This what we are looking for. This is our TARGET!

Memories are short and this was even on the national news channels at that time, explaining it all to the American people. So how did this rumor get started on using the revalued Kuwaiti dinar to pay off the entire National debt of the US ever get started anyway? We all know how, from this propaganda group that works behind the schemes manipulating you investors. They know better than to come after the informed, well educated investors and investment firms. Instead they like the dumbed down people. You are their target. We witnessed this also with the Bitcoin and now the Zimbabwe scam. Please also see my Special Editions on these two topics. These will open your eyes to finally see the truth.

Their words not mine…..No Rumors, No Hype, No Opinions ,,,,,

Just the FACTS!

Disclaimer: All information in this newsletter is not intended for investment decisions / purposes. Mnt Goat is not a financial analyst, planner, banker, attorney or associated in any role with giving out professional investment advice.

In ending I want everyone to know your constant prayers in the fight against evil (ISIS) in Iraq have worked. God has guided these young men and women on the battle field. Let us all now also keep praying. I have composed a prayer maybe we can all pray today in our own way and until the revaluation occurs.

PRAYER

“For the prime minister and all his cabinet members, and parliament that they may be anointed by the Holy Spirit to do God’s will and bring the free Republic of Iraq to the much-deserved prosperity and abundance thru justice and freedom from oppression and corruption”. That they may be a shining example for the rest of the middle east and the world to follow. In the name of Jesus Christ our King and Savior, Amen”